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THE CITY OF 1 0 <br /> ,., CITY COUNCIL AGENDA REPORT <br /> pLEASANTON. <br /> March 15, 2016 <br /> Finance <br /> TITLE: ADOPT A RESOLUTION ACCEPTING THE MIDYEAR FY 2015/16 <br /> OPERATING BUDGET AND AMENDING THE FY 2015/16 OPERATING <br /> BUDGET ACCORDINGLY <br /> SUMMARY <br /> The City follows a three step operating budget process that starts with the approval of a <br /> two-year Operating Budget (Budget); then after the first year of the Budget the adoption <br /> of a Midterm Budget; and the adoption of Midyear Budget adjustments during each of the <br /> two years of the Budget. This report is the Midyear Budget report for the first year of the <br /> Budget. This report recommends adjustments to the FY 2015/16 Operating Budget <br /> adopted by the Council on June 16, 2015. While these recommended changes primarily <br /> affect the General Fund, Water Fund, and Sewer Fund, adjustments are also <br /> recommended to the Special Revenue Funds and Internal Service Funds. Included in <br /> the recommended Midyear budget adjustments are recognition of grant funds, Council <br /> actions, and other Budget adjustments that have occurred since the adoption of the <br /> Operating Budget on June 16, 2015. A complete analysis of the adjustments for all funds <br /> is included in Attachment 1. <br /> RECOMMENDATION <br /> Adopt the attached resolution approving Midyear adjustments to the FY 2015/16 Budget. <br /> FINANCIAL STATEMENT <br /> The recommended adjustments to various funds and the financial impact to each fund <br /> are outlined in Attachment 1. The discussion section of this report also summarizes the <br /> recommended adjustments and their respective impact to the Budget and fund balances. <br />